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EURUSD has dropped through 1.1430-35 in the past few hours before finding mild bids. The single currency pair is trading around 1.1442-45 at this point in writing and is expected to push further towards 1.1600 in the near term. Please note that potential remains for a push through 1.1950 mark in the next several weeks as marked on the chart here.
EURUSD prices have dropped sharply from 1.1600 through 1.1435 in the past few trading sessions along with bullish divergence on daily RSI (lower part of the chart). The above phenomenon is potentially bullish for EURO and a swift reversal could be on cards taking bears by surprise. Immediate price resistance is at 1.1480, and a push higher would confirm that a meaningful bottom is in place.
The overall wave structure is also completing a corrective drop from 1.2350 through 1.1430-40 mark. Also prices have tested the Fibonacci 0.50 retracement of the earlier rally between 1.0636 and 1.2350 levels respectively. High probability remains for a push higher from current levels (1.1445) soon.
Potential rally towards 1.1950 against 1.1400
Good luck!
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
